Last year was an exciting time for Bitcoin and other cryptocurrencies because the world has begun to accept them as digital currency.
In fact, many crypto enthusiasts have already bought real estate, cars, investments, and other things using Bitcoin as payment.
Although Bitcoin hasn’t gone mainstream yet, many people do believe we are close to mass adoption across North America.
What is Bitcoin?
Bitcoin is a decentralized blockchain that was originally created to be a peer-to-peer payment system that can be utilized by anyone to send value across the world near feeless!
You can’t hold Bitcoins in your hand because they reside in the digital world and only exist in a digital wallet like Metamask, Trust Wallet, or others.
Why Buy Houses with Bitcoin?
Some people like to play the volatility that is naturally in Bitcoin and other crypto coins like Ethereum, Solana, XRP, and more.
Let’s say that you buy Bitcoin from an exchange like Coinbase at $22,000 and within 6 months the price rises to over $32,000 per coin.
Well, then you just picked up an extra $10K in value without doing anything but holding the Bitcoins in your wallet.
Then if you choose to buy real estate with that Bitcoin you end up saving $10K on the price of the house because your Bitcoin has appreciated in value that much.
Of course, this can work the other way around so you need to be careful and understand the crypto markets before jumping in.
How to Buy Houses with Crypto?
To actually buy real estate using Bitcoins or other cryptocurrencies you will need help from a professional who is already serving their clients’ crypto needs.
Since crypto is a newer asset class there aren’t too many experts yet!
But there are a few like Greater PROPERTY Group who specializes in Bitcoin Real Estate purchases.
Companies like them can help you facilitate the transaction and educate you on the risk vs reward serious that could play out during your transaction.
However, it’s really simple to buy homes with Bitcoin and only consists of sending the correct amount to purchase the property to the title company that will be handling the closing.
Where to Buy Bitcoin Safely?
With so many different crypto exchanges on the planet today, its hard to find the safest one to buy cryptocurrencies from.
But if you stick to the large centralized exchanges your life can be easier and the process will be much easier to grasp.
Some of the best exchanges include:
- Coinbase
- FTX
- Binance
- Gemini
Plus many others that offer crypto coins for sale…
Is Buying Properties with Bitcoins Safe?
Yes! Buying houses and other real estate using Bitcoins or other crypto coins is safe provided that you do your own research and only do business with trusted and reputable companies.
Can it Be Dangerous!
Yes! It can be dangerous because if you do not know what you’re doing and send the coins to the wrong address you can lose your funds forever.
Also, doing business with shady people can mean they scam you and end up taking your Bitcoins for themselves.
Since federal regulations are yet to come, the entire industry can be a bit of the wild wild west but that also plays into making lots of money investing in crypto coins too.
Wrapping It Up!
Remember to do your due diligence before buying real estate using Bitcoins to ensure that your dealing with honest people and businesses.
This way you will be sure to take advantage of the upside of crypto coins and not the downside which can really hurt sometimes.
Bitcoin looks like it’s here to stay and understanding how it works and why it’s so popular will empower you to realize the benefits and stay far away from the wild west portions of the industry.